The reduction of greenhouse gas emissions to reduce global warming is the goal set out by the Paris Agreement. The global energy demand makes it impossible to abandon carbon as a source of energy altogether. However, companies have turned to carbon capture and sequestration (CCS) technology to address carbon release into the atmosphere. The technology has been utilized in a wide range of industries since 1972 and reduces greenhouse gas emissions around the world.
CCS involves three significant steps:
1. Capturing CO2 at the source
2. Compressing CO2 for transportation
3. Injecting CO2 deep into a rock formation at a carefully selected and safe site, where it is permanently stored.
Below are three of the companies investing their time into making CCS more feasible and profitable, as the current energy required to capture the carbon is uneconomic.
Exxon Mobil
Exxon Mobil partnered with FuelCell Energy, Inc. in 2016 to improve and advance CCS technology to make it more efficient, effective, and affordable to capture carbon. They were the first company to capture more than 120 million tons of CO2.
The company has more than 30 years of experience with CCS technology, but they are leading their industry in their efforts to reduce emissions. The company plans to invest $3 billion in lower-emission energy solutions by 2025.
Climeworks
The process utilized by Climeworks to capture carbon emissions involves fans drawing air into a plant where filters separate the CO2. The process releases the CO2 air back into the environment while storing the CO2, which can be used for several other techniques such as fizzy drinks or fertilizer.
Climeworks innovation allows for harmful emissions to be used as a resource making it useful to the global community. Their innovative process is taking CCS technology to the next level.
Transborders Energy
Most recently, Transborders Energy has lined up with Australia’s national science agency and Japanese firms to work on plans to capture carbon dioxide and use CCS technology to store it. They are going to focus on industrial plants in both Australia, and the Asia Pacific, with the project said to start in 2027.
These companies all share a commitment to meet the global climate goals in the hopes of a better future.
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Author: Francesca Savino is a graduate student from Owasso, Oklahoma, studying at the School of Global Studies and Partnerships at Oklahoma State University. She is passionate about international trade and global supply chain management. Francesca is currently acting as a social impact intern at One10.